Notes to SEFA
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of the College, it is not intended to and does not present the financial position, changes in net assets or cash flows of the College.
The total loans granted under the Federal Direct Student Loans Program, which were not made by the College but were received by its students, were approximately $7,986,000 for the year ended May 31, 2025. The total loans outstanding under the Federal Perkins Loan Program were approximately $75,000 for the year ended May 31, 2025.